Inflated Purchases

Recent Posts

• Newly notified Section 16(5) opens the door for revisiting denied ITC claims for specific periods – Kerala HC Ruling
• Since Appellant acted in a bona fide manner and made necessary adjustments by the end of the financial year, there is no liability of interest under section 201(1A): ITAT Mumbai
• Penny stock addition deleted by ITAT Mumbai as no role has been attributed and/or established qua rigging of the shares
• Interest reimbursed to the sister concerns is not an income & there is no statutory obligation to deduct TDS under Section 194A: ITAT Mumbai
• Liabilities disclosed in the balance sheet by the assessee, if acknowledged and supported with evidence, cannot be treated as remission or cessation of liability under Section 41(1) of the Income-tax Act, 1961: ITAT Delhi
• Income offered by Husband and Wife separately in the ITR & TDS credit claimed by Husband Only: ITAT Mumbai allows the TDS Credit
• What PAN 2.0 Means for you: Top 10 Takeaways for Taxpayers
• Taxability of ESOPs:
• Mere Disagreement Doesn’t Justify invocation of Section 263 Revision Power: Madras HC
• No liability where contract is cancelled before supply of goods